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The Green Climate Fund Is Good for Business and the Environment

The Green Climate Fund Is Good for Business and the Environment

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Richard W. Caperton applauds the creation of the Green Climate Fund at the U.N. climate negotiations and talks about why it’s a powerful tool in responding to climate change.
Richard W. Caperton applauds the creation of the Green Climate Fund at the U.N. climate negotiations and talks about why it’s a powerful tool in responding to climate change.

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Published by: Center for American Progress on Dec 16, 2011
Copyright:Attribution Non-commercial

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1Center for American Progress |  The Green Climate Fund Is Good for Business and the Environment
 The Green Climate Fund Is Good forBusiness and the Environment
It’s Essential to Bringing Private Capital to the FightAgainst Global Emissions
By Richard W. CapertonDecember 2011
Te Green Climae Fund creaed a he Unied Naions Framework Convenion onClimae Change, or UNFCCC, meeing in Durban, Souh Arica, las week will go along way oward reducing ever-increasing emissions in developing counries by broadly disribuing invesmen risks and encouraging an increased ow o privae capial inohe gh agains climae change. Tanks o he American delegaion a he conerence,he und has he righ design in place o suppor projecs eecively around he globeha will help avoid he mos caasrophic eecs o climae change and help developedcounries mee heir pledges or he climae nance needed in he years o come.In ac, he only way developed counries will ulll heir pledge made in Copenhagenin 2009—o mobilize $100 billion per year in adapaion and miigaion unding by 2020—is hrough a sophisicaed Green Climae Fund ha uses public money o lever-age large amouns o privae capial. Negoiaors a Durban succeeded in making hisund a realiy, and heir work is a criical sep orward in batling climae change.Tis inernaional acion o bring privae invesors o he able in solving he climaeproblem is regretably in marked conras o he Unied Saes, where policymakersconinue o hwar eors o build he clean energy economy.Beore geting ino how he und should work, i’s imporan o undersand why i’snecessary in he rs place. Afer all, individual developed counries could simply makenancial pledges on heir own—jus like hey each made carbon reducion pledges inCopenhagen, Denmark, a he U.N. conerence in 2009. Tis would no work, however, because he und is abou pooling risk, as well as capial.Invesmens in climae change miigaion and adapaion can be very large—as much asseveral billion dollars. I a counry is operaing on is own, i can only aord o nance alimied number o projecs each year. Tis will limi is abiliy o adequaely diversiy is

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